Core Laboratories (NYSE:CLB) Receives Average Recommendation of “Sell” from Brokerages

Shares of Core Laboratories (NYSE:CLBGet Rating) have been given a consensus recommendation of “Sell” by the seven brokerages that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $31.55.

Several analysts have recently commented on CLB shares. Zacks Investment Research upgraded Core Laboratories from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research note on Monday, May 9th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley raised their target price on Core Laboratories from $30.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, April 11th. Finally, Piper Sandler downgraded Core Laboratories from a “neutral” rating to an “underweight” rating and raised their target price for the company from $19.50 to $21.30 in a research note on Monday, April 18th.

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Core Laboratories during the 1st quarter worth approximately $30,000. FMR LLC lifted its position in shares of Core Laboratories by 173.3% during the 1st quarter. FMR LLC now owns 40,935 shares of the oil and gas company’s stock worth $2,821,000 after buying an additional 25,955 shares in the last quarter. Morgan Stanley lifted its position in shares of Core Laboratories by 318.5% during the 2nd quarter. Morgan Stanley now owns 620,718 shares of the oil and gas company’s stock worth $24,177,000 after buying an additional 472,415 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Core Laboratories during the 3rd quarter worth approximately $660,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Core Laboratories by 15.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 33,764 shares of the oil and gas company’s stock worth $936,000 after buying an additional 4,411 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Shares of CLB stock traded up $0.37 during mid-day trading on Friday, hitting $23.36. The company’s stock had a trading volume of 432,969 shares, compared to its average volume of 489,359. The company’s fifty day simple moving average is $29.77 and its 200-day simple moving average is $27.12. Core Laboratories has a 52 week low of $21.08 and a 52 week high of $49.87. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.54 and a current ratio of 2.03. The company has a market cap of $1.08 billion, a PE ratio of 111.24 and a beta of 2.71.

Core Laboratories (NYSE:CLBGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Core Laboratories had a return on equity of 18.28% and a net margin of 2.04%. The firm had revenue of $115.30 million during the quarter, compared to analyst estimates of $111.63 million. During the same period last year, the company posted $0.15 EPS. On average, equities analysts anticipate that Core Laboratories will post 0.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 9th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. Core Laboratories’s dividend payout ratio (DPR) is currently 19.05%.

Core Laboratories Company Profile (Get Rating)

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

See Also

Receive News & Ratings for Core Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.